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TEST BANK For Auditing & Assurance Services: A Systematic Approach, 12th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version$15.99
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TEST BANK For Auditing & Assurance Services: A Systematic Approach, 12th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version
TEST BANK For Auditing & Assurance Services: A Systematic Approach, 12th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version
TEST BANK For Auditing & Assurance Services: A Systematic Approach, 12th Edition By William Messier Jr, Steven Glover, Verified C...
Auditing & Assurance Services A Systematic Approach 12e
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f MessierChapter 1-21 Answers are at the End of Each Chapter
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Chapter 1 f
Student name: f f
1) Why do auditors often use a sampling approach to evidence gathering?
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1) ff
A) Auditors are experts and do not need to look at much to know whether the
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financialstatements are correct or not.
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B) Auditors must balance the cost of the audit with the need for precision and for some types
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ofevidence, computer data analytic approaches can’t be used.
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C) Auditors must limit their exposure to their auditee to maintain independence.
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D) The auditor's relationship with the auditee is generally adversarial, so the auditor will
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nothave access to all of the financial information of the company.
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Question Details f
AACSB : Communication f f
AICPA : FN Decision Making
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Accessibility : Keyboard f f
NavigationDifficulty : 1 Easy
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AICPA : BB f f
IndustryBloom's :
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Understand
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Learning Objective : 01-05 Understand why sampling is important in an
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audit.Gradable : automatic
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Accessibility : Screen Reader f f f
CompatibleTopic : The Audit Process
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2) Which of the following statements best describes a relationship between sample size
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andother elements of auditing?
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2) ff
, A) If materiality increases, so will the sample size.
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B) If the desired level of assurance increases, sample sizes can be smaller.
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C) If materiality decreases, sample size will need to increase.
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D) There is no relationship between sample size and materiality or the desired level
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ofassurance.
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Question Details f
Accessibility : Keyboard f f
NavigationBloom's : Apply
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Difficulty : 2 Medium f f f
AICPA : BB Critical f f f
Thinking AACSB : Analytical
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Thinking AICPA : FN Risk
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Analysis
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Learning Objective : 01-05 Understand why sampling is important in an
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audit.Gradable : automatic
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Accessibility : Screen Reader f f f
CompatibleTopic : The Audit Process
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3) Which of the following statements about the study of auditing is NOT true?
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3) ff
A) The study of auditing can be valuable to future accountants and business decision
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makerswhether or not they plan to become auditors.
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B) The study of auditing focuses on learning the analytical and logical skills necessary
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toevaluate the relevance and reliability of information.
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C) The study of auditing focuses on learning the rules, techniques, and computations required
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toanalyze financial statements for making investment recommendations.
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D) The study of auditing begins with the understanding of a coherent logical framework
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andtechniques useful for gathering and analyzing evidence about others’ assertions.
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, Question Details f
AACSB : Communicationf f
AICPA : FN Decision Making
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Accessibility : Keyboard Navigation f f f
Learning Objective : 01-01 Understand why studying auditing can be valuable to you whether or not
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youAICPA : BB Industry
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Difficulty : 2 f f
MediumBloom's :
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Analyze Gradable :
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automatic
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Accessibility : Screen Reader Compatible f f f f
Topic : The Importance for Studying Auditing
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4) The basic definition of auditing essentially indicates that, overall, auditing is a process to:
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4) ff
A) detect fraud. f
B) examine individual transactions so that the auditor may certify as to their validity.
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C) objectively obtain and evaluate evidence regarding assertions made by another party.
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D) assure the consistent application of correct accounting procedures.
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Question Details f
AACSB : Communicationf f
Accessibility : Keyboard
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NavigationBloom's : Remember
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Difficulty : 1 Easy f f f
AICPA : FN Reporting
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Learning Objective : 01-03 Know the basic definition of a financial statement
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audit.AICPA : BB Critical Thinking
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Gradable : automatic f f
Accessibility : Screen Reader Compatible f f f f
Topic : Auditing, Attest, and Assurance Services Defined
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5) Assurance services may improve all of the following except:
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5) ff
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